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CNET News.com: Palm prices IPO at $38 per share

“The handheld device company, which is expected to begin trading
tomorrow under the ticker “PALM,” raised $874 million through the
IPO, excluding underwriting fees and other costs. That makes it the
third-largest technology IPO ever.”

“Palm also may raise another $131 million–putting the value of
the IPO at more than $1 billion–if it sells an additional 3.45
million shares to the underwriters to cover over-allotments.”

“Earlier this week, Palm essentially doubled its pricing range
to $30 to $32 a share from its initial range of $14 to $16 a share.
That placed Palm among a small group of companies whose IPOs
garnered enough interest to take such a bold step. VA Linux, the
top first-day gainer of all time, also had doubled its range as it
prepared to debut.
VA’s initial gain, however, has
subsided.”


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